Morgan Stanley has hired Andrew Peel as head of digital asset markets.

Peel spent 12 years at Credit Suisse and is a self-declared "subject matter expert for bitcoin and cryptocurrency."

Peel's appointment comes amid a flurry of activity from investment banks looking at the crypto space.

LONDON — Morgan Stanley has poached a 12-year veteran of Credit Suisse to lead "digital asset markets" at the bank.

Andrew Peel joined Morgan Stanley as head of digital asset markets in June 2018, according to his LinkedIn profile. A spokesperson for Morgan Stanley confirmed the appointment to Business Insider but declined to comment further.

Peel spent 12 years at Credit Suisse, according to his LinkedIn, most recently serving as a vice president of sales and trading innovation. In that role, he was a "subject matter expert for bitcoin and cryptocurrency," according to his profile.